Miller's Betting System is a popular betting system adopted by famous bettor John Miller in America. Miller published a book where he explained the essence of the system called "Professional Gambler".
Initially, Miller focused on a betting system for betting on American and classic youth football matches.
Having developed a betting system, Miller began to apply versions of the strategy for betting in other sports disciplines.
The Miller system is used by financial investors and risk managers. Beginners in betting successfully apply the strategy for playing sports and eSports bets.
How does the Miller system work?
The Miller system advises players to choose their bet size effectively based on their total bankroll. Since it has a low risk level, players are advised not to bet more than 1% of the pot on a single bet.
The participant uses the minimum bet until he increases the account balance by 25%. After that, the minimum bet is recalculated and used in the game already increased by 20-25%. The participant continues to bet at 1% until he earns another 25% of the amount of the new pot.
The process can be repeated several times, but one should not try to do too many series at the same time. A long line can lead to increased risk without profit. For example, by doubling the initial pot, the client can withdraw half of the money won and return to the minimum bet again.
Features of the Miller Betting System
Miller's staking system has many advantages and several disadvantages combined in a particular strategy.
Probability of bankruptcy
When using the Miller betting system, the probability of a player going bankrupt is small. With a series of failures, you need to lose 100 bets to empty the entire balance. According to statistics, the player wins 47 times out of 100 more than 90% of the time.
It is impossible to lose all funds using a strategy - the bookmaker's client makes bets on games with a low level of risk and equal chances of winning.
Sports betting with 2+ odds
The Miller betting system assumes that the odds and payouts for a particular bet are twice or equal to the amount wagered.
One disadvantage of this feature is that players must consistently find games with real outcomes, which can be difficult to do in sports events.
Home advantage
The player has unequal chances of winning: 53–47 in favor of the house. The edge becomes more apparent after a few bets in the long run. Different bookmakers set different odds, and the odds and profit potential vary within each bookmaker.
Bookmaker services have an additional advantage depending on the type, difficulty of obtaining, use and withdrawal.
Losses
Using the Miller system, a player can lose on bets and incur losses.
On average, if a bettor wins less than 52 out of 100 predictions, then in the end he loses the starting bank. Additional losses are capped at a low rate of 1%.